23.01.23 - 30.01.23
Last week results
Instruments:
Bitcoin has moved over $20,000 in a very short period of time. Most of the Crypto community has mixed feelings about this, a lot of rumors and predictions have flooded the media. This increase has provided hope, however, is this the end of the Bear Market or just a Bull Trap? We have been tricked over and over again, that’s why we need to remain calm and predict the market without emotions.
What happened last week :
▶️ Bitcoin Whales Accumulate $1.46B in 2 Weeks; BTC Soars Beyond $23k
▶️ Rumor has it that some exchanges have manipulated the market in order to create a Bull Trap.
▶️ EU Delays MiCA Crypto Regulations Due to Translation Issues. The EU can be the decising factor for the next Bull Run.
These week’s key events
Bitcoin has moved over $20,000 in a very short period of time. Most of the Crypto community has mixed feelings about this, a lot of rumors and predictions have flooded the media. This increase has provided hope, however, is this the end of the Bear Market or just a Bull Trap? We have been tricked over and over again, that’s why we need to remain calm and predict the market without emotions.
What happened last week :
▶️ Bitcoin Whales Accumulate $1.46B in 2 Weeks; BTC Soars Beyond $23k
▶️ Rumor has it that some exchanges have manipulated the market in order to create a Bull Trap.
▶️ EU Delays MiCA Crypto Regulations Due to Translation Issues. The EU can be the decising factor for the next Bull Run.
📈 BTC end of Bear Market or just a Bull Trap ?
These high fluctuations have created a lot of FOMO ( Fear of Missing Out ) we need to be very careful trading in this type of market. Bitcoin will need to exit and pass the $24 900 mark. Markets and assets usually drop 2 or maybe 3 times faster than they rise.
💡 3 reasons to buy BTC now:
🔹A lot of Crypto Influencers are calling Elon Musk out, to tweet about BTC
🔹 Shorting can be used, however, it can be very dangerous, since we might see some other short squeeze.
🔹 The number of unique addresses holding at least 100 coins has seen a spike, they are at this moment 20-25% in profit.
BTC:The number of unique addresses holding at least 100 coins.
🔹Technical analysis: Things can go either way. BTC can pump to $25 000, then we might see a strong rejection. We can still make a profit if we follow the support and resistance levels.
Long Strategy: We can open a Long position if the price moves over $23,050, then we can apply a Take Profit at $23,900 and remove it to $24,400. The Stop Loss should be around $22,750
Short Strategy: We can open a Short trade at $22,490 and place our Take Profit at $21,325 then remove it to $20,500. A Stop Loss can be considered at $22,680
Reinitiate a Long trade at $21,000 or $21,500 only if you see a firm rejection. Then, use the above trading targets.
❗️ Use this opportunity to make the right decision.
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